30 Ways to Get Out of Debt

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  • Assess your current insurance expenses. Could you be getting these services any cheaper? Could you negotiate your payments?
  • Consider getting rid of Foxtel,etc, or at the very least using a basic package.
  • Choose a mobile phone and consider ditching the land line.
  • Pick up your next new outfit at the second hand shop instead of at a name brand store.
  • Hold a garage sale or sell off items you don’t need.
  • Sell off quality goods you no longer need using online services (eBay, Gumtree, Facebook, etc.)
  • Shop the sales when it comes to groceries, this includes switching from name brand to generic brand where possible.
  • Get rid of any expense you don’t have to have. This involves distinguishing between wants, and needs, and eliminating wants until your debt level is back under control.
  • Take advantage of ‘cheap night’ when you go to the movie theatre, and bring snacks from home.
  • Seasonal work can be a great way to temporarily bolster your income to get out of debt.
  • Read books digitally or at the library instead of purchasing them.
  • Grocery shop wisely. This involves shopping the sales, and buying in bulk where it makes sense to do so.
  • Drink water at a restaurant, and forget the extras.
  • Consider using an appetizer as a meal, or splitting an entree, as a way to save cash.
  • Before you go out for your daily running around, make a list of where you need to go and constructively plan the order you need to maximize the efficiency of your fuel usage.
  • Barter and trade wherever possible when you need services. You’d be surprised how many people are looking to barter themselves.
  • Use do it yourself gifts wherever possible to save cash.
  • Eat breakfast efficiently, using eggs, fruit, and oatmeal instead of cereals. As a bonus, this not only cleans up your finances, it also helps you improve your health!
  • Opt in to budget based plans for necessary utilities. This allows you to manage your expenses by having a more consistent cost to account for.
  • Christmas can be a costly time of year, but it doesn’t have to be. You can save a lot just by drawing names (instead of buying for every one), or setting a spending cap on gifts. These factors will ensure you save cash at a time that could be costly.
  • Workout at home rather than at the gym. There’s plenty of physical activity to be had within the home, from yoga to hiking or biking, and none of it is going to cost you the amount that a gym membership will.
  • Negotiate a new price with your hairdresser, or see about a new and cheaper hairdresser.
  • Avoid events and places that pressure you to purchase whenever possible.
  • Family dinners. You can save a lot just by accepting the invitation your mum has likely been offering for ages now, and you may even get some leftover food savings from it afterwards.
  • Don’t purchase your coffee, home brew it.
  • Take your lunch, yes, everyday.
  • Prepare meals with leftovers in mind, to ensure you get the most out of each of your meals.
  • Use a dental rinse instead of fluoride treatments at the dentist. This is a tip we only got by asking the dentist for advice, asking people for advice on how to keep costs down is a tip in itself.
  • Ensure that your house is heated when it needs to be warmed, but not when it doesn’t. These can be helped with programmable thermostats.
  • Don’t go browsing or window shopping when you know you can’t afford to be shopping. Impulse control can be quite difficult, so the best idea is often to avoid the temptations all together where possible.

Changing your lifestyle isn’t easy. We all love our daily coffees and our chocolate cereal, but when you’re in debt these items become luxuries. Luxuries you cannot afford if you want to get serious about getting out of debt. Make the distinction for yourself with each purchase you’re making, do I “need” this or do I “want” this? If you only want it, put it on hold until later.



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